Branson has publicly bet £1M that the brand will not disappear in the next five years.
As per Sir Richard's blog:
"Rumours have been spread in the press that I am planning to give up control of Virgin Atlantic and, according to Willie Walsh - who runs BA - that our brand will soon disappear.
This is wishful thinking and totally misguided. Will BA never learn? Let's see how much they believe this. Let them put their money where their mouth is.
The last time BA had to make a settlement to me for damages (in part for spreading not dissimilar false rumours) I split the money amongst our staff. Rather than suing them on this occasion, I will pay £1 million to their staff if Virgin Atlantic disappears within say five years. If not, BA pays our staff £1 million.
Virgin Atlantic was my baby 28 years ago when we set up with just one plane. Like all children, they never really stop being your babies and Virgin Atlantic is still much cherished. It has grown into a wonderful airline which has punched above its weight for almost three decades, giving much larger airlines a real run for their money.
We intend to carry on doing so for many years to come and, contrary to Mr Walsh's hopes, we have no plans to disappear. But since they are so confident, will BA accept our challenge?"
www.baisshite.com the latest news and views on British Airways, the world's "favourite" airline.